A great closing to end the month of September’s expiry closed the Nifty above the 5000 levels. Oil and Gas besides the Private Banks were the major drivers to pull the Sensex by more than 250 points.
Looking at the global cues the Asian markets showed a mixed reaction with some ending in green and some in the red. US markets had also closed yesterday off their day’s high looking nervous with the German vote ahead. The two day rally over the Index has brought some relieve over the hovering concerns of the markets weakening and touching the levels of 15,000 again.
All the heavy weights have performed well with JP Associates, Siemens, and Infosys being the top performers. However some big players such as the Reliance Capital, L&T, Sesa Goa, and Rel Infra were the ones to be on the negative side. With some power brought in the markets and the confidence of some buying coming in purchasing some of the up beaten stocks can be the right way going forward.
However as mentioned every time the level of reaction of the markets to every other news either making or breaking it still prevails. The inflation numbers also came in today for the food inflation which touched 9.13% today. However the markets dint react to it that much and was up with the Vote in Germany in favour of the bail out.
Bell the Bull says: A highly volatile market is here to stay